** GOLD @ 50-day M.A **
February 14th, 2006
Gold came off rather sharply the past week with prices having retreated to the 50-day moving average. Since the medium-term bull run that started in August 2005, this 50-day moving average has managed to provide good support for the metal. We won’t be surprised if the bigger downside correction towards $500/480 that some are looking (or should we say hoping) for will not materialize.